Monthly Archives: January 2016
I had a question on how to build wealth. I would like to start investing in stocks and mutual funds. I am in the process of creating good financial habits and also building my financial net worth. So far I have done the following:
- Canceled Credit card and only owe $814
- Started to put money away in my savings account that earns 5%
- Started to put money away in my roth-ira
- Started using mint.com to track my spending
- Creating a balance sheet of my assets, liabilities and equity
Good news: I now have a (+) net worth and have almost reached my goal of $1000 in assets.
Next goal: I will be receiving money from school and can use about $2,000 of it to invest. Should I invest on my own or use a personal advisor to do this? I was thinking of using Wachovia for my investing goals.